Crestline Management LP Increases Stock Position in PepsiCo, Inc. (NASDAQ:PEP)

Crestline Management LP increased its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 99.5% in the 4th quarter, Holdings Channel reports. The firm owned 79,073 shares of the company’s stock after buying an additional 39,446 shares during the period. Crestline Management LP’s holdings in PepsiCo were worth $12,024,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. WealthTrak Capital Management LLC bought a new stake in shares of PepsiCo in the fourth quarter worth $28,000. Collier Financial bought a new stake in shares of PepsiCo during the 4th quarter valued at about $28,000. Creative Capital Management Investments LLC purchased a new stake in shares of PepsiCo during the 4th quarter valued at about $30,000. Prudent Man Investment Management Inc. bought a new position in shares of PepsiCo in the 4th quarter worth approximately $30,000. Finally, Summit Securities Group LLC purchased a new position in shares of PepsiCo in the fourth quarter worth approximately $33,000. Hedge funds and other institutional investors own 73.07% of the company’s stock.

PepsiCo Price Performance

NASDAQ:PEP opened at $131.99 on Tuesday. The business’s 50-day moving average is $145.55 and its 200 day moving average is $151.92. PepsiCo, Inc. has a 12 month low of $131.52 and a 12 month high of $183.41. The company has a market capitalization of $180.97 billion, a P/E ratio of 18.99, a P/E/G ratio of 3.09 and a beta of 0.47. The company has a current ratio of 0.82, a quick ratio of 0.65 and a debt-to-equity ratio of 2.05.

PepsiCo (NASDAQ:PEP) last posted its earnings results on Thursday, April 24th. The company reported $1.48 EPS for the quarter, missing analysts’ consensus estimates of $1.49 by ($0.01). The firm had revenue of $17.92 billion for the quarter, compared to the consensus estimate of $17.81 billion. PepsiCo had a net margin of 10.43% and a return on equity of 58.87%. The firm’s revenue was down 1.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.61 earnings per share. On average, equities research analysts forecast that PepsiCo, Inc. will post 8.3 earnings per share for the current fiscal year.

PepsiCo Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 7th were issued a $1.355 dividend. This represents a $5.42 dividend on an annualized basis and a dividend yield of 4.11%. The ex-dividend date was Friday, March 7th. PepsiCo’s payout ratio is 79.71%.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. Piper Sandler started coverage on shares of PepsiCo in a research report on Tuesday, January 7th. They issued an “overweight” rating and a $171.00 price target on the stock. Evercore ISI set a $140.00 target price on PepsiCo in a report on Thursday, April 24th. Morgan Stanley cut their price target on PepsiCo from $168.00 to $153.00 and set an “equal weight” rating for the company in a report on Friday, April 25th. UBS Group decreased their price objective on PepsiCo from $175.00 to $169.00 and set a “buy” rating on the stock in a research note on Friday, April 25th. Finally, HSBC lowered their price target on shares of PepsiCo from $186.00 to $170.00 and set a “hold” rating on the stock in a report on Tuesday, February 4th. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $160.69.

About PepsiCo

PepsiCo, Inc engages in the manufacture, marketing, distribution, and sale of various beverages and convenient foods worldwide. The company operates through seven segments: Frito-Lay North America; Quaker Foods North America; PepsiCo Beverages North America; Latin America; Europe; Africa, Middle East and South Asia; and Asia Pacific, Australia and New Zealand and China Region.